SOUTH Africa would celebrate 20 years of freedom in 2014 because the country had "done well … under difficult conditions", President Jacob Zuma told a Brics business council meeting in Johannesburg on Tuesday.
The meeting is the first face-to-face gathering since the council was established at the Brazil, Russia, India, China and South Africa (Brics) heads of state summit in Durban five months ago.
Mr Zuma said there were many opportunities to be explored in South Africa and the rest of the continent.
He said South Africa was "making progress" despite the triple challenges of poverty, inequality and unemployment.
Total trade between South Africa and its Brics counterparts has risen in recent years. South Africa’s trade with the bloc rose to R294bn in 2012, an 11% jump from R264bn in 2011, Mr Zuma said.
Trade with China accounts for the lion’s share of this trade.
Brics countries could explore areas of co-operation in infrastructure, agriculture, mining, manufacturing and tourism with South Africa and other African countries.
Brics business council chairman Patrice Motsepe said Africa needed $94bn every year to fund infrastructure. About $48bn of this was able to be sourced, leaving a significant shortfall.
Brics business council representatives from other countries pledged support to trade initiatives that would benefit all countries equally.
President Zuma addresses the Brazil, Russia, India, China and South Africa (Brics) business council at the first meeting of the Brics business council in Sandton, Johannesburg, on Tuesday. Picture: GCIS
SOUTH Africa would celebrate 20 years of freedom in 2014 because the country had "done well … under difficult conditions", President Jacob Zuma told a Brics business council meeting in Johannesburg on Tuesday.
The meeting is the first face-to-face gathering since the council was established at the Brazil, Russia, India, China and South Africa (Brics) heads of state summit in Durban five months ago.
Mr Zuma said there were many opportunities to be explored in South Africa and the rest of the continent.
He said South Africa was "making progress" despite the triple challenges of poverty, inequality and unemployment.
Total trade between South Africa and its Brics counterparts has risen in recent years. South Africa’s trade with the bloc rose to R294bn in 2012, an 11% jump from R264bn in 2011, Mr Zuma said.
Trade with China accounts for the lion’s share of this trade.
Brics countries could explore areas of co-operation in infrastructure, agriculture, mining, manufacturing and tourism with South Africa and other African countries.
Brics business council chairman Patrice Motsepe said Africa needed $94bn every year to fund infrastructure. About $48bn of this was able to be sourced, leaving a significant shortfall.
Brics business council representatives from other countries pledged support to trade initiatives that would benefit all countries equally.
News, views, analysis and multimedia coverage of the Brics nations and their annual summit in Durban
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